The need to transfer funds overseas is common the world over, for various reasons. If you are wondering whether you should choose CurrencyFair or XE Trade, know that both companies offer reliable services. On top of that, both provide better deals in comparison to most banks. However, is one more advantageous than the other?
Trustpilot gives you easy means to find out what current and past customers have to say about popular online businesses. CurrencyFair, on this platform, scores an average of 9.6 out of 10, whereas XE Trade averages at 8.0 out of 10. However, there is more to the XE Trade vs. CurrencyFair comparison to consider, so continue reading.
Since both companies specialize in international repatriation of funds, selecting between the two requires that you consider different factors. This XE Trade vs. CurrencyFair comparison is divided in sections accordingly:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
International Money Transfer Fees
One company does better than the other in this section of the CurrencyFair vs. XE Trade comparison. The financial aspect of the deal, however, also depends on the exchange rate you get.
- CurrencyFair fees depend on whether or not your transfer finds a match.
- When customers match each other, CurrencyFair charges 0.25% to 0.3% of the amount exchanged, plus a flat €3 fee.
- If you don’t find a matching customer, CurrencyFair matches your exchange, and charges 0.4% to 0.6% of the amount exchanged, plus a €3 fee.
- The average CurrencyFair customer pays around 0.4% of the transferred amount plus €3 as fees.
- You need to pay an additional fee to make an express deposit.
- Transfers made through XE Trade to over 34 countries no not attract any fees.
- If you have to pay a fee, you get to know about it before the deal confirmation.
Ease of Use
When it comes to providing website access in foreign languages, this XE Trade vs. CurrencyFair comparison favors the former. Signing up with both companies is simple. After the verification of your details, you can use your new account to start transferring funds.
- You can use the CurrencyFair website in English, French, and German.
- You can register as an individual or a business.
- As an international customer, you can pay for your transfer via an electronic bank transfer.
- The company accepts express deposits made using Mastercard and Visa debit cards in GBP, EUR, PLN, CHF, NOK, DKK, and SEK.
- The company provides apps for Android and iOS.
- Use CurrencyFair Exchange Rate Alerts to get exchange rates sent directly to your email.
- Access to the XE Trade website comes in English, Spanish, French, Italian, Portuguese, Dutch, Chinese, Japanese, and Arabic.
- International customers can pay via wire transfers.
- Residents of the UK can make payments via FPS, BACS, or CHAPS.
- Canadians can use Bill Pay to make payments.
- Destination country dependant transfer methods include wire transfers, electronic transfers, and drafts.
- XE provides apps for Android, iOS, BlackBerry, and Windows.
Regular Overseas Payments
In this section of the CurrencyFair vs. XE Trade comparison, one company excels over the other. While CurrencyFair lets you set up scheduled transfers easily, XE Trade is yet to begin offering this service.
- Activating the CurrencyFair free transfers offer is straightforward and requires no promo code.
- Read about TransferWise features and their pro’s and con’s.
- When CurrencyFair and TransferWise go head to head.. who wins?
- Watch a TransferWise YouTube video on how to apply your exclusive discount.